Market Report for Houston, TX – March 2023
The Houston-Woodlands-Sugar Land region in March 2023 had a median home price of $325,000, with 8,026 closed sales and 19,823 active listings. The Months of Inventory (MOI) for March 2023 was 2.6 months, indicating a seller’s market. Days on Market (DOM) for homes sold during March was 59, while the Days to Close (DTC) was 34 days, resulting in a total of 93 days on the market.
The median price per square foot for homes sold in March 2023 was $159.30, with a median home size of 2,092 sqft and a median year built of 2006. The close-to-original-list-price ratio was 94.6%.
Overall, the Houston real estate market remained strong with a seller’s market and increasing home prices. Although the inventory of homes for sale increased slightly, demand remained strong, with homes selling quickly and at a high percentage of their initial list price.
If you are thinking about buying or selling in the Houston area, it is important to work with a qualified realtor who can help you navigate the current market conditions. Schedule a consultation here.
The Texas Real Estate Research Center is a valuable resource for real estate professionals, investors, and anyone interested in learning more about the Texas real estate market.
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